Financial and Banking News
Yemen Introduces Another Exchange Rate For The Riyal
Yemen is to allow foreign oil companies and tourists to buy local currency atthe preferential rate of $1=YR25, compared to the official rate of $1=YR12. Theunofficial rate is close to $1=YR50. In February 1992 Yemen introduced a newexchange rate of $1=YR18 for all imported commodities with the exception ofbasic goods such as wheat, flour, rice and pharmaceuticals (MEES,...